Russian Railways interested in privatization of Greek train operator

Russian Railways and Italian Ferrovie dello Stato are among the candidates in the privatization of 100% of national train operator TrainOSE
Russian Railways interested in privatization of Greek train operator
20 April 11:33 2016 Print This Article

Italy and Russia are interested in the privatization of Greek national railway operator TrainOSE. The Hellenic Republic Asset Development Fund (HRADF) has announced the three potential candidates for the privatization of 100% of national train operator TrainOSE: Russian National Railways (RZD), Italian state railway group Ferrovie dello Stato SpA, and the Greek GEK Terna Hellenic Republic Asset Development Fund.

In accordance with the requirements of the contest, a candidate for the purchase of assets should own consolidated assets worth more than EUR 100 million in net debt.

The initial cost of TrainOSE is less than EUR 100 million, however, according to analysts, the high level of debt (over EUR 750 million) and lease payments make TrainOSE a risky deal.

The tender for the privatization of 100% of national train operator TrainOSE was announced in January, 2016. In February, the Deputy Prime Minister Arkady Dvorkovich said that the Russian National Railways is interested in the company.

Greece had announced the privatization of TrainOSE assets in 2013. Then, in addition to TrainOSE, there were in sale a controlling stake in the seaport of Thessaloniki and ROSCO. Back then, the representatives of Russian Railways first spoke on the interest in the privatization of national train operator.

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Davide Lonardi
Davide Lonardi

Giornalista iscritto dall'Ordine Nazionale dal 2011, nutre una particolare passione per il mondo dell'editoria online. Collabora con diverse testate occupandosi anche di strategie di marketing e di personal branding sul web

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